Air China Cargo mandates 777 financing

The bank will act as sole mandated lead arranger of a US Export-Import Bank-guaranteed financing structure with a capital market take-out option covering three 777F deliveries scheduled for 2014 and 2015.

Flightglobal’s Ascend Online database shows two deliveries are scheduled for October and November this year. The remaining aircraft under this mandate are due in January 2015.

In February this year, shareholders Air China, Cathay Pacific and Fine Star Enterprises agreed to inject a further CNY2 billion ($328 million) into Air China Cargo.